Insights into the forces shaping our industry.
IMPROVING HIRING PRACTICES IN TODAY’S MARKET
I had the honor of speaking at the Wire Association’s Operator Summit earlier this month in Dallas and was amazed to hear how many companies are struggling to hire people. Below are some takeaways from the event.
Companies need to be creative to find ways to attract the right people. Embrace flexibility, alternative hiring sources, part time and weekend shifts.
One company is having success allowing people to work 36 hours on the weekend but paying for 40 hours. These 12-hour Friday through Sunday shifts allow employees to go to college and finish their degrees. Due to this practice and the part time scheduling, this company is fully staffed during the weekend shifts.
Also consider the following potential talent pool:
- Stay at home parents seeking part time work
- College students
- Individuals who want to work on weekends due to (other job, college, those who don’t have childcare issues on the weekend)
- Farmers who may want to work seasonally or part time
- Teachers (summer work)
- New employees who are entering the workforce who can’t work 40 hours a week
Make sure to consider alternative hiring sources. Our Egret Survey found that 34% of people were contacted by recruiters and 31% were referred by an employee. Do you give referral fees to your employees? According to LinkedIn, the average referral fee is $2,500 and according to goremotely.net, referred employees produce 25% more profit than other employees and the retention rate is longer.
Other hiring sources discussed by several companies that attended were:
- Partner with the State Department of Veteran Affairs or Employment Office to hire retiring and returning military. (Career fairs on military bases)
- Send a letter to churches within a 30-mile radius of your office. Ministers and clergy often know people who are looking for work
- Partner with AARP or Heroes Make America
- Work with probation/correction agencies. Due to the terms of their probation, they must show up for work and it gives people a second chance
- Connect with your local trade school and community college to do internships
- Internships for seniors in high school who might not be ready for or can afford college
Once you find candidates, work on improving your hiring process. That process is crucial to how candidates and new employees view your company.
- If you have too many steps in the process, you will lose candidates
- Use video interviewing to help speed up the process
- Ensure that you decide if the candidate is a good fit within 24-48 hours after each step in the interview process.
Egret has found that candidates have numerous opportunities available in this job market. Be ready to move quickly and have good, solid offers prepared. Also be ready to negotiate. Flexibility is key!
Next month I will cover “How to Prepare a Good Offer and Retain Employees.”